MILAN AREA KEY FACTS | Snapshot 2021
THE PRODUCTIVE FABRIC
THE MILAN AREA IS WITHSTANDING THE IMPACT OF COVID
The Metropolitan City of Milan has over 305,400 active enterprises, the majority of which operate in the tertiary sector, particularly in services, where there are over 158,300 units (51.8% of the total) and 1,27 millions of employees (58.4%). The manufacturing sector covers 17.8% of employees, with 9.6% of the enterprises.
The highest annual growth rate of enterprises is registered in Milan (+1.6%) and in the MI Est Asse Ferrovia area (+0.9%), whereas the Metropolitan City rate is 0.5%.
THE HIGHEST RATE OF ENTERPRISES IN THE NORTHERN AREAS
The highest rate of enterprises stands in the Northern areas of the Metropolitan City, i.e. Nord, Nord-Ovest and Alto Milanese areas, which together account for slightly less than 20% of production activities. Over 8.1% of enterprises are concentrated in the South (Sud, Sud-Est and Abbiatense areas). In Milan stands the 59.7% of the total number of enterprises.
THE DEMOGRAPHIC BALANCE OF ENTERPRISES IS POSITIVE OVER THE LAST 3 YEARS
The performance of enterprises in the Metropolitan City remained positive over the last 3 years. Registration flows of new businesses (about 24,000 units per year) far exceeded the terminations, leading to constantly positive balances of over 5,400 registrations per year.
IMPACT OF THE PANDEMIC ON COMPANIES AND EMPLOYEES
|
Yearly % change (2020 on 2019) |
Active companies |
Employees of active companies |
|
Food processing |
-1,6% |
-0,6% |
|
Fashion |
-5,2% |
-4,6% |
|
Chemicals |
-4,8% |
3,2% |
|
Pharmaceuticals |
-8,6% |
-0,4% |
|
Metallurgy |
-3,7% |
-2,7% |
|
Mechanicals |
-8,8% |
1,6% |
|
ICT Services |
0,8% |
3,2% |
|
Professional, scientific and technical activities |
2,9% |
-0,2% |
|
Finance and insurances |
4,2% |
-3,1% |
THE REAL ESTATE MARKET
SALES AND PURCHASES OF OFFICES INCREASING IN THE METROPOLITAN AREA
The number of office sales stood at 1,275 transactions, 902 of which in Milan (-26% y-o-y) and 348 in the rest of the Metropolitan City (+7% y-o-y). Milan has shown a decrease in transactions after a six consecutive year growth, whereas the rest of the Metropolitan City has recorded its fifth positive yearly change. Among the 11 sub-areas, MI Est Asse Ferrovia, MI Nord and MI Nord-Ovest areas hold more than half of the metropolitan market (59%), excluding Milan. The average stock turnover is 2.4% for the metropolitan areas excluded Milan and 2.3% for Milan.
SALES OF FACTORIES AND WAREHOUSES DECREASING
The number of factories and warehouses sales stood at 591 transactions at the end of 2020, 136 of which in Milan and 455 in the rest of the Metropolitan City. The most significant markets are those of the MI Nord Ovest area (92 sales), MI Alto Milanese area (70 sales) and MI Nord (43).
The stock turnover rate (IMI indicator) amounts to 2.7% in the Milan market and to 1.9% average in the rest of the Metropolitan City.
OFFICES PRICES
In 2020 the average maximum price of offices located in the Metropolitan Area of Milan (approximately 4,624 Euro/sqm) has grown by 0.3% y-o-y. In the rest of the Metropolitan area (excluding Milan) the average maximum price of offices stood at 1,453 Euro/sqm, nearly stationary on a yearly basis (-0.1%).
As far as the medium prices of offices are concerned, they recorded in Milan (2,924 euro/sqm) an average annual change of -0.5%. In the rest of the Metropolitan City the average price (1,306 Euro/sqm) has been almost stationary (-0.1%).
PRICES OF WAREHOUSES AND FACTORIES
In 2020 the average maximum prices of industrial warehouses are equal to 882 Euro/sqm in Milan, falling by -1.0% y-o-y and to 757 Euro/sqm in the rest of the Metropolitan City, stationary on a yearly basis. The average medium price of warehouses located in the Metropolitan City (excluding Milan) stood at 656 Euro/sqm (-2.0% yearly change), while in Milan is approximately 805 Euro/sqm (+1.3% yearly change). Prices have decreased in all sub-areas (-1,9% average).
INFRASTRUCTURE ACCESSIBILITY
"OUT OF SCALE" MILAN AND GOOD ACCESSIBILITY CONDITIONS FOR NORD, NORD-OVEST AND EST ASSE FERROVIA AREAS
Milan has an excellent overall accessibility with very high and “off the scale” figures compared to the rest of the territory, for all modes (road, rail and airports).
With reference to the territorial areas of the Metropolitan City, some more than others are characterised by a better overall accessibility. The Nord area, with the highest accessibility values after Milan, has a more consistent and articulated infrastructure and a wider range of rail transport services allowing faster and direct links with the airport system too.
The Nord Ovest area and the Est Asse Ferrovia area follow with medium-high values: the first especially for the part of territory included in the first crown surrounding Milan, with the main radial lines on the Milan ring road system and railway link; the second with reference to the East-Milan road/railway corridor that ensures a good level for the overall mobility offer.